Neuren Pharmaceuticals (ASX:NEU) started the development of NNZ-2591 for the potential treatment of hypoxic-ischemic encephalopathy (HIE), according to a Thursday filing with the Australian bourse.
HIE is a type of brain injury resulting from inadequate oxygen or blood flow in a baby's brain before or shortly after birth, the filing said.
The company aims for a pre-investigational new drug meeting with the US Food and Drug Administration in the fourth quarter of the year before initiating a clinical trial in patients with HIE, per the filing.
Shares were up 3% in morning trade Thursday.
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